Need help with creating proper decals

Alright, so I have been trying for some time now. But it seems that most programs except Paint.net (and maybe Gimp) doesnt like transparency in VTF files. They open up and look extremely weird. I even tried opening a normal PNG with transparency in it with VTFlib, but still it doesnt seem like it have any transparency in it.

Photoshop looks like this:

http://i.imgur.com/dr1WVgM.png[/T]

It’s really starting to piss me off a lot, as I have used a long time on trying to make it work.

Here’s a screen of VTFlib:
[T]http://i.imgur.com/DWPiXoe.png

You need to switch to the “Channels” tab in Photoshop and create a new one for an Alpha channel. Not just normal PNG transparency or whatnot.

Tutorial for TF2 transparency sprays but it applies the same for materials:
http://www.gamesprays.com/articles/tutorial/create-team-fortress-2-sprays-with-transparency-1/